The State Bank of Pakistan announced a significant drop in its dollar reserves by $397 million. Reserves, which were previously $9.42 billion, have now fallen to $9.03 billion.
The State Bank of Pakistan (SBP) on Thursday reported that its liquid foreign reserves declined by USD 397 million to USD 9,027.2 million during the week ending July 19, 2024 due to external debt repayments.
Meanwhile, net foreign exchange reserves held by commercial banks were recorded at $5,308.2 million during the week under review, it added.
Total liquid foreign exchange reserves held by the country in the previous week ended July 12, 2024 stood at $14,703.5 million. Among them, foreign exchange reserves held by the central bank were recorded at $9,423.7 million, while commercial banks held $5,279.8 million.
